up or down friday, page-182

Just back from hols... kept up a bit via financial times.. looks like most investors are nonplussed about xjo.. take profits or hold on for the ride? .. but also lots of coverage of the sovereign funds .. by 2015 they will probably own at least 33% of global equities... new ball game i reckon... the rules will be more about equities vs bonds.. and whatever has better return .. that is, is RELATIVELY cheap ... will get the most money.. so far there are sovereign funds owned by governments in russia, china, singapore, middle east (Saudi's etc) .. chinas is about to get much larger by about 200%... and due to the depreciation of the usd these funds are expanding hugely of late...

tho there is a bit of thought that the rise in xjo is due to os traders, not investors ... mainly asian of course.. with the implication that they will not be buy'n'holders ... so look to shanghai and hk for guidance...

me, i have nfi really but i suspect its going to be the slow grind up from here unless there is a scare.. the sovereign funds will buy any equity dip as long as bonds are relatively expensive.. the global credit crunch didn't do it so wtf would?.. and government policy will determine investment decisions more and more.. new ball game imho... fwiw.. it really might be different now.. shyts me but may be the case.. cheers!